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Echo Trading fiscal Q3 loss widens 27.8% YOY

Echo Trading Co. Ltd. said its normalized net income for the fiscal third quarter ended Nov. 30, 2014, came to a loss of ¥11.91 per share, compared with a loss of ¥9.32 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥71.9 million, compared with a loss of ¥56.3 million in the year-earlier period.

The normalized profit margin dropped to negative 0.4% from negative 0.3% in the year-earlier period.

Total revenue totaled ¥19.23 billion, compared with ¥19.25 billion in the year-earlier period, and total operating expenses totaled ¥19.35 billion, compared with ¥19.34 billion in the prior-year period.

Reported net income came to a loss of ¥74.0 million, or a loss of ¥12.26 per share, compared to a loss of ¥274.0 million, or a loss of ¥45.40 per share, in the prior-year period.

As of Jan. 13, US$1 was equivalent to ¥118.49.